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3 AI-Driven Security Capabilities for Banks

By Banking CIO Outlook | Tuesday, January 21, 2020

Banks are increasingly incorporating AI-driven security systems to address security challenges such as frauds and thefts. 

FREMONT, CA: Organizations are increasingly adopting artificial intelligence (AI) for surveillance across the globe. Financial institutions are deploying AI-based solutions to enhance their security capabilities significantly.     

Banks are primary targets for fraud and theft; thus, financial institutions need a multi-layered security plan that must be backed by AI-driven solutions to counter crimes. Remote monitoring technology with AI-equipped analytics capabilities is also among the emerging trends when it comes to banking security. The following describe some ways in which banks are improving their physical security capabilities.      

Facial Recognition at Teller Windows, ATMs and Bank Entrances

Facial recognition cameras at the bank entrances are being deployed to capture faces and identify suspicious activities and behaviors of the probable suspects. The technology will be especially useful for remotely located ATMs that can’t be provided with adequate security personnel. 

AI Capability to Identify Suspects

AI capability is an excellent option for banks whose key storage needs are on-site and require real-time decision-making. AI solutions can quickly match the suspected behavior with past footages involving suspicious or fraudulent activities. The instant results can offer invaluable security capability to the financial institutions. Surveillance cameras, coupled with AI, will revolutionize the way banks view security in the future.

Object Identification at ATMs

ATM card skimming, PIN compromise and jackpotting are some of the common crimes associated with ATMs. A security system that utilizes machine vision and AI can offer automated alerts in case something unusual occurs.

The current AI trends suggest that AI-equipped security systems are expected to proliferate throughout the financial institutions in the times to come. 

See Also: Top Banking Technology Companies

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